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Private Lending & Conventional Mortgage Advice

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Antonio Esquivel
  • Realtor
  • Omaha, NE
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110
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Purchasing residential property using an LLC

Antonio Esquivel
  • Realtor
  • Omaha, NE
Posted Feb 16 2015, 14:14

Here is a subject I am not understanding very well and maybe someone can help me out.

I currently have one rental house that is under my name, but I plan to make an LLC and transfer title. I understand that the mortgage will still be under my name because banks don't have as much to trail back to if I start missing payments, and thats the LLC's only asset.

However, once I do have an LLC is there anyway I can obtain a mortgage just under the company? I've talked to a couple banks and most wont lend to an LLC because it's too risky.

I do know that many people will purchase a property and then trasnfer title, but this would defeat the purpose because evertyhing is still in your name financially.  I would like to keep my credit from showing multiple mortgages and keep my personal information and company seperate.

I would appreciate any recommendations, thanks!

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